Key factors:
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Bitcoin is making an attempt a assist retest that appears similar to late 2024, dealer Galaxy mentioned.
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Last time, BTC value motion went from $70,000 to $108,000 after a profitable retest.
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Separate evaluation doesn’t see a return to current swing lows.
Bitcoin (BTC) value motion could open up a recent 50% surge if a key assist line holds.
New evaluation from dealer Galaxy printed on X on Thursday sees BTC/USD repeating its late 2024 breakout.
Bitcoin in “attention-grabbing spot” throughout assist retest
Bitcoin value comparisons hold coming as market members see similarities between the present market construction and earlier phases of the bull run.
For Galaxy, emphasis is now on the strikes that led to BTC/USD breaking outdated all-time highs of $73,800 in November 2024.
Then, as now, the pair labored on retesting a resistance trendline as assist after initially breaking via it. When it succeeded, value discovery started.
“$BTC in an attention-grabbing spot,” Galaxy informed X followers.
“Last time it seemed like this it was earlier than the run from $70k to $100k.”
The state of affairs in August 2025 is just not equivalent. The trendline is now ascending, not descending, whereas exterior components akin to macroeconomic headwinds within the type of US commerce tariffs proceed to sway risk-asset appetites.
As Cointelegraph reported, the consensus is that BTC value will finally select a course after weeks of diminished volatility.
No new BTC value lows?
When it involves historic value comparisons, there might be extra excellent news for bulls.
Related: Bitcoin provide shock to ‘uncork’ BTC value as OTC desks run dry
Analysis has already dismissed the concept that Bitcoin may find yourself copying its conduct from the beginning of the yr, when all-time highs sparked a 30% value rout.
Instead, that $109,300 peak, which got here in January, is on the radar as final assist.
In one other statement this month, Galaxy noticed a sample enjoying out involving swing lows, the most recent of which got here on Friday, when BTC/USD briefly fell beneath $112,000.
When swing lows appeared in April and June, each events fashioned a backside that was not revisited.
I’m seeing a sample right here.$BTC pic.twitter.com/NFg5yElddl
— Galaxy (@galaxyBTC) August 1, 2025
This article doesn’t comprise funding recommendation or suggestions. Every funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a choice.